Federal revenues project higher for the next 10 years than the average for the past half-century. So how, with record revenues, can the forecasted debt-to-GDP ratio soon surpass any in the history of the United States? On Wednesday, the Congressional…

Since the pandemic began early last year, the federal government has passed three stimulus packages totaling $5.15 trillion: including $2.35 trillion in March/April 2020; $900 billion in December 2020; and $1.9 trillion in March 2021 (the American Rescue Plan Act…

In his autobiography, Up From the Projects, the late economist Walter Williams explained his move away from the belief that minimum wages help the poor. His change of heart on the topic began when one of his UCLA professors asked…

President Donald Trump is one of the worst negotiators I have ever seen. One day, he tells Speaker of the House Nancy Pelosi that the stimulus talks are over because she insisted on at least a $2 trillion deal and…

America’s national debt now stands at close to $27 trillion. According to a new report by the Congressional Budget Office, by the end of 2020, federal debt held by the public is projected to equal 98 percent of GDP —…

A few weeks ago, President Donald Trump proposed a payroll tax holiday to Americans earning less than $100,000 per year. The gesture is better described as a deferral of the payroll tax burden until April 2021, and that has some…

When revenue shrinks by 1 percent of GDP and spending increases by 51 percent over 10 months, you get a $2.8 trillion deficit. That figure, according to the Congressional Budget Office, is significantly larger than the deficit Uncle Sam accumulated…

Spending on America’s debt service is about to see a big jump, according to projections from the Congressional Budget Office (CBO). In fact, the amount of money needed to pay down the national debt in the next two years is…

The nonpartisan Congressional Budget Office (CBO) has released its 2018 “Long-Term Budget Outlook.” Unfortunately for all Americans, it’s even worse than many expected. The 2018 “Outlook” is the first forecast to take into account the tax cuts and spending increases…